Development/Redevelopment

Indianapolis -- Simon Property Group Inc. announced that its Premium Outlets division has reached an agreement with the Gila River Indian Community's Wild Horse Pass Development Authority to develop Phoenix Premium Outlets, an upscale outlet shopping center serving the Greater Phoenix and Scottsdale areas. 

Rochester Hills, Mich. -- Birmingham, Mich.-based Robert B. Aikens & Associates LLC announced the addition of two new tenants, Portrait Innovations and Flat Top Grill, to its Village of Rochester Hills lifestyle center project in Rochester Hills, Mich.  

The Village of Rochester Hills Portrait Innovations location, which opened May 10th, is the company’s eighth store in Michigan.  Flat Top Grill will replace Baja Fresh as one of the center’s nine eating establishments. 

Frisco, Texas -- The City of Frisco executed a Memorandum of Understanding with Forest City Development and its partner, Ernest Mahard Jr. to develop a 320-acre mixed-use development on the southwest corner of the Dallas North Tollway and U.S. Highway 380. 

Bounded by Virginia Parkway and County Road 26, this development will encompass retail, residential, office, entertainment, hospitality, municipal parks and services. 

Austin, Texas -- The Weitzman Group announced that Bradley Bailey has been named senior VP and director of investment sales for Central Texas and The Valley for The Weitzman Group.

Bailey will work with Lance Morris, president of The Weitzman Group in Austin, and David Nicolson, president of Weitzman’s San Antonio office. 

In this new position, Bailey will handle investment sales and marketing for retail and commercial properties. 

New York City -- Cushman & Wakefield announced that Matthew Winn has been appointed senior managing director, U.S. Retail Services Leader. He will be based in Cushman & Wakefield’s Atlanta office.

Previously, Winn served as managing director for Cushman & Wakefield’s retail consulting group. 

Fort Worth, Texas -- Chicago-based General Growth Properties announced that Hulen Mall, in Fort Worth, Texas, will undergo a major interior facelift and renovation beginning Monday, May 23.  

Cleveland, Ohio --Forest City Enterprises, Inc., announced the creation of a new leadership position to support the company’s growing presence in the Texas real estate market.  

Effective immediately, Brian Ratner has been promoted to president of Forest City Texas and will lead the company’s Texas operations from its regional office in Dallas.    

New York City -- Target Corp. plans to spend more than it had forecast this year on its entry into the Canadian market as it nails down more of the best retail locations sooner than expected.

The retailer said it will be able to “clarify” within weeks the number and locations of the first 100 to 150 stores it will open in Canada.

“We expect to close on higher value lease transactions sooner than expected,” Target CFO Doug Scovanner told analysts on a conference call Wednesday.

New York City -- New York & Co. reported Thursday a loss of $3.7 million in the first quarter, compared with a loss of $4.9 million a year ago.

Sales rose to $239.4 million from $237 million. Same-store sales increased 2.5%.

The company said it expects to close eight stores and remodel six existing locations, ending the second quarter of fiscal year 2011 with 545 stores, including 24 outlet stores.

Foothill Ranch, Calif. -- The Wet Seal reported Thursday that net income for the quarter ended April 30 rose to $8 million, compared with $3.1 million a year earlier.

Revenue rose to $156 million from $137.8 million. Same-store sales increased 7%.

Wet Seal said it expects eight net new store openings in 2011, with six net openings at Wet Seal and two at Arden B.